Engine Replacements. Buyer has seven (7) calendar days from Sale Day to arbitrate and must provide substantial documentation proving the engine has been replaced. : Engine replacement (including non-original replacement) is the sole responsibility of the Seller and must be announced on vehicles five (5) years or newer. : Engine replacements on MTS Guaranteed units must be announced regardless of age and mileage. : No reimbursement of any kind will be granted under the following (in some cases transportation fee may be considered; it is recommended that a PSI is done prior to transport):
Engine Replacements. If the Borrower has given notice that it intends to replace, or permit to be replaced, an Engine suffering a Casualty, and such replacement is permitted under the foregoing clause (b), the Borrower may make subject to this Loan Agreement, not later than the Casualty Settlement Date with respect to such Engine, a replacement for such Engine meeting the suitability standards hereinafter set forth (a "Replacement Engine"). To be suitable as a Replacement Engine, an engine must be (i) the same general type and of the same Manufacturer, (ii) have the same or better remaining economic useful life, state of repair and operating condition (immediately preceding the Casualty assuming that such Engine had been maintained in accordance with the terms of Section 4 of the Aircraft Security Agreement) as the Engine suffering the Casualty, (iii) have a Fair Market Value of not less than the Fair Market Value (immediately preceding the Casualty assuming that such Engine had been maintained in accordance with the terms of Section 4 of the Aircraft Security Agreement) of the Engine suffering the Casualty and (iv) be free and clear of any Liens other than Permitted Liens. In the event any Replacement Engine is of an earlier year of construction than the replaced Engine, the Borrower shall deliver an appraisal in form and substance satisfactory to the Required Lenders from an appraiser selected by the Required Lenders confirming that such Replacement Engine meets the standards set forth in clause (ii) and (iii) of the immediately preceding sentence. The Borrower shall cause World Travel to cause an Aircraft Security Agreement Supplement to be executed and delivered to the Borrower in order to subject such Replacement Engine to the Aircraft Security Agreement, and the Borrower shall cause a Borrower Security Agreement Supplement to be executed and delivered to the Collateral agent on behalf of the Lenders in order to subject the Borrower's interest in such Replacement Engine to the Borrower Security Agreement, and upon such execution and delivery and the receipt by Lenders of (i) evidence reasonably satisfactory to them of the Borrower's compliance with the insurance provisions of Section 8.2 with respect to such Replacement Engine, and (ii) an opinion of counsel to the Borrower and World Travel opining as to the authorization, execution and delivery of the Borrower Security Agreement Supplement and the Aircraft Security Agreement Supplement, the enforceability of the Borrower...
Engine Replacements. Buyer has seven (7) calendar days from Sale Day to arbitrate and must provide substantial documentation proving the engine has been replaced. : Engine replacement (including non-original replacement) is the sole responsibility of the Seller and must be announced on vehicles five (5) years or newer. : Engine replacements on MTS Guaranteed units must be announced regardless of age and mileage. : No reimbursement of any kind will be granted under the following: - Units returned for structural damage - Units returned and subsequently unwound for electronic data issues (unless record posted after purchase) : Transportation invoices will be paid by Seller. - Transportation reimbursement is only from AutoNation to registered place of business (or vice versa) - Transportation will not be paid for distances greater - unless vehicleisanunwind for issues suchas TMU/salvage,etc. that were not announced at time of sale : All vehicle reconditioning expense reimbursements for late title claims must be accompanied by valid supporting documentation. Such expenses will be reimbursed up to a maximum of 5% of the vehicle purchase price plus any transportation costs. : AutoNation Auto Auction, or the Seller, will only be obligated for documented reconditioning expenses incurred by the Buyer. No subsequent Buyer reconditioning expenses will be reimbursed. : All expense receipts must be submitted at the time the vehicle is returned. Exceptions: transportation invoices. : Any fraudulent expenses reported will result in Buyer not being paid, and may result in the termination of conducting future business with AutoNation Auto Auction. : Any vehicle sold and returned to AutoNation Auto Auction for an undisclosed branded title will have all reconditioning expenses, incurred by the Buyer, reimbursed by the Seller (documented expenses). : The Seller is responsible for reimbursement of all reasonable documented expenses incurred by the Buyer (excluding profit commissions, advertising, and detail charges) on vehicles arbitrated for unannounced conditions (i.e. TMU, salvage, flood etc.) MTS (Motor-Trans-Structure) Guaranteed – AutoNation Auto Auction : Comes with a 7-calendar day guarantee from Sale Day and only covers structure, engine and transmission (internally lubricated parts only). No other guarantees expressed or implied. : All MTS units for sale that have been pre-Sale inspected by AutoNation and have passed MTS will be designated by the appropriate decal. : Units designated by a...
